1051 E Spruce StSault Sainte MarieMI49783
INVESTMENT ANALYSIS
Investment Verdict
Solid IncomeTight but positive: 1051 E Spruce St, Sault Sainte Marie, MI, 49783 in Sault Sainte Marie at $120,000 earns $939/mo in rent and nets $148/mo after the $540/mo payment, a 9.39% yield with limited short-term income headroom. The equity story offsets the thin monthly spread: 5% annual appreciation adds $33,154 over five years. Ziffy Mortgage underwrites this on a 1.74 DSCR without U.S. credit history. With $1,105/yr in principal paydown, total projected return reaches $55,197.
| This Property | City Avg | |
|---|---|---|
| Gross Rental Yield | 9.4% | 8.1% |
| Monthly Cash Flow | $148 | $600 |
City averages based on Sault Sainte Marie market data in our database. Property projections are estimates.
DSCR Loan Qualification
| Monthly Rental Income | $939 |
| Total Monthly Debt Service | $744 |
| DSCR Ratio | 1.26x |
Ziffy Mortgage: Your DSCR most likely meets our 1.0+ requirement, so you'll most probably qualify for our standard DSCR investment loan program. To pre-qualify, book time with your loan officer →
Estimates assume 6.0% rate / 30-yr fixed, 30% down, 1% tax, 0.5% insurance. Not a commitment to lend.
Single Family
Built in 1940
2,232 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49783, Sault Sainte Marie, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,064 (100%) |
| Owner Occupied HU | 5,407 (59.7%) |
| Renter Occupied HU | 2,442 (26.9%) |
| Vacant Housing Units | 1,215 (13.4%) |
| Median Home Value | $160,218 |
| Average Home Value | $183,626 |
Housing Distribution
Address Breakdown
Residential
8,365
Single Family
7,421
Multi-Family
944
Businesses
807
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Ziffy AI Summary
A quick, investor-focused snapshot highlighting income strength, yield potential.
| Key metrics | Value |
|---|---|
| Price | $399,900 |
| Est. Rent | $3,200/mo |
| ROI | 18% |
- Attractive rent-to-price ratio for income stability
- Good fit for DSCR financing with healthy coverage
Single Family
Built in 1940
2,232 sqft lot
$N/A/sqft
No HOA
Neighborhood Data
Neighborhood data shown for ZIP Code: 49783, Sault Sainte Marie, MI area.
Housing Distribution
Housing Statistics
| Category | Value |
|---|---|
| Total HU (Housing Units) | 9,064 (100%) |
| Owner Occupied HU | 5,407 (59.7%) |
| Renter Occupied HU | 2,442 (26.9%) |
| Vacant Housing Units | 1,215 (13.4%) |
| Median Home Value | $160,218 |
| Average Home Value | $183,626 |
Housing Distribution
Address Breakdown
Residential
8,365
Single Family
7,421
Multi-Family
944
Businesses
807
Nearby investment properties with comparable rents
Nearby investment properties with comparable prices
Listed by: Maxine Anderson • KW Northern Michigan Properties
Mls Name: EUPBR
Mls Provider:
Mls ID: #25-218
Disclaimer: Copyright Eastern Upper Peninsula Board of Realtors. All rights reserved. Information is deemed reliable but not guaranteed. The listing brokers offer of compensation is made only to participants of the MLS where the listing is filed.